July 31, 2019 / 1:25 PM / 20 days ago

China central bank to take steps to improve banks' loan structure

Headquarters of the People's Bank of China (PBOC), the central bank, is pictured in Beijing, China September 28, 2018. REUTERS/Jason Lee

HONG KONG (Reuters) - China’s central bank said on Wednesday it will take measures to improve banks’ loan structures, such as increasing the proportion of medium- to long-term loans for the manufacturing sector.

Other measures include prohibiting consumer loans being used to illegally buy property, ensuring that loans flow to the real estate industry reasonably, the People’s Bank of China said in a statement on its website.

The bank will also strengthen regulations on financing activities by big property developers with high leverage ratios, it said.

Reporting by Hong Kong newsroom

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